On February 22, the online travel platform Ctrip Group (Ctrip, Nasdaq: TCOM; Ctrip Group-S, 09961. HK) disclosed its unaudited financial performance for the fourth quarter and full year of 2023.
Financial data shows that in the fourth quarter of 2023, Ctrip's net revenue was approximately 10.338 billion yuan (RMB), a year-on-year increase of 105.49%; The net profit attributable to the parent company was approximately 1.297 billion yuan, a year-on-year decrease of approximately 36.95%. The net revenue for the whole year of 2023 was approximately 44.562 billion yuan, a year-on-year increase of 122.2%; The net profit attributable to the parent company was approximately RMB 9.918 billion, a year-on-year increase of approximately 606.91%.
From the perspective of revenue composition, Ctrip's accommodation booking revenue in the fourth quarter was about 3.903 billion yuan, a year-on-year increase of 131.08%; The annual revenue from accommodation bookings was approximately 17.257 billion yuan, a year-on-year increase of 133.2%. The revenue of transportation ticketing in the fourth quarter was about 4.106 billion yuan, a year-on-year increase of 86.3%; The annual revenue of transportation ticketing was approximately 18.443 billion yuan, a year-on-year increase of 123.47%. The revenue of tourism and vacation business in the fourth quarter was about 704 million yuan, a year-on-year increase of 329.27%; The annual revenue of tourism and vacation business was about 3.14 billion yuan, a year-on-year increase of 293.98%. The revenue of business travel management in the fourth quarter was approximately 634 million yuan, a year-on-year increase of 128.88%; The annual revenue of business travel management business was about 2.254 billion yuan, a year-on-year increase of 108.9%.
It is worth mentioning that in the fourth quarter of 2023, Ctrip's outbound hotel and flight bookings recovered to over 80% of the same period in 2019, and the total bookings on Ctrip's international OTA platform increased by over 70% year-on-year. In 2023, Ctrip's product research and development expenses reached 12.1 billion yuan, a year-on-year increase of 45%, accounting for approximately 27% of net operating income.
"In 2023, driven by the tourism boom, China embarked on an important journey of reconnecting with the world. Thanks to our expanding market influence, our international business has achieved significant growth." Liang Jianzhang, Executive Chairman of Ctrip's Board of Directors, said, "We will continue to focus on globalization and artificial intelligence innovation, and are confident in building upon our success in 2023 and further exploring future opportunities."
As of the noon closing of the Hong Kong stock market, Ctrip reported a price of HKD 348 per share, up 5.01%. It is worth mentioning that on the morning of that day, Ctrip's stock price climbed to a historic high of HKD 349.6 per share.